Clostridium Vaccines Market to Usher at 4.9% CAGR Owing to Rise in Awareness Regarding Zoonotic Diseases
The global clostridium vaccines market features a consolidated vendor landscape with a small number of players accounting for a major share in the market, notes Transparency Market Research. Prominent players in the market include Sanofi-Aventis, Merck & Co., Eli Lilly and Company, and Boehringer Ingelheim. These companies held 63% of the market’s share in 2015. The key companies in the market are focusing on new product developments and product innovations to expand their revenue share in the market. Moreover, they are emphasizing on research and activities to gain a stronghold in the market.
According to TMR analysts, the global clostridium vaccines market is poised to burgeon at a CAGR of 4.9% during the forecast period of 2015 to 2024. The market exhibits immense potential and is anticipated to reach a valuation of US$ 643.5 mn by the end of the forecast period.
On the basis of animal species, the global clostridium vaccines market is classified into swine, ovine, poultry, bovine, and caprine. Out of these, the swine segment holds a leading share in the market on account of the high prevalence of zoonotic diseases in swine and increasing demand for pork.
On the regional front, the global clostridium vaccines market is segmented into Latin America, North America, Middle East and Africa, Asia Pacific, and Europe. Of them, North America is anticipated to rise at a promising pace which is mainly because of diminishing arable land and rising demand for meat.
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Rise in Animal-derived Products Consumption Boosts Clostridium Vaccine Market Growth
Increase in the consumption of meat and other animal-derived products has led to an increase in prevalence of animal-derived diseases. Moreover, there is a rise in investment on livestock animals, especially in the emerging economies. These factors have impacted the clostridium vaccines market favorably, thus promoting growth. Yet another factor driving the market’s growth is increasing disposable income worldwide.
Furthermore, rising awareness regarding zoonotic diseases and the benefits of clostridium vaccines have contributed to the market’s expansion. Besides, governments are taking initiatives to encourage the adoption of clostridium vaccines. They are also striving to strengthen the distribution network of the vaccines, thus spiking clostridium vaccines market’s growth.
There is a rise in the clostridium based infection deaths worldwide because of treatment resistance. This is one of the prominent factors promoting the growth of the global clostridium vaccines market. Additionally, advancements in the retail pharmacy segment and increase in the number of veterinary clinics have fortified the market’s growth.
On the downside, there are few restraining factors that may cause a downfall in the global clostridium vaccines market. Factors such as high cost of treatments and the concerns associated with the side effects of the vaccines may hinder the market’s growth. Nonetheless, increase in government funding and development of new products may present lucrative opportunities for the market’s growth.
Strategic Acquisitions to Pave Growth Avenues for Clostridium Vaccine Market
Major players in the market are engaging in collaborations and acquisitions to expand their footprints in the market. For instance, Zoetis acquired Abaxis, a key company in the realm of veterinary diagnostics in May 2018. This provided Zoetis with a new platform to steer its product sales across numerous countries. Similarly, Sanofi signed an agreement with Boehringer Ingelheim. This collaboration of animal health and consumer healthcare business opened numerous growth opportunities for both the companies and made Boehringer Ingelheim one of the leading providers of animal vaccines.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Clostridium Vaccine (Animal Health) Market (Animal Species - Bovine, Ovine, Caprine, Swine, and Poultry; Distribution Channel - Veterinary Clinic, Veterinary Hospital, Veterinary Research Institute, and Retail Pharmacy) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”
The global clostridium vaccines market has been segmented as below:
- Veterinary Clinic
- Veterinary Hospital
- Veterinary Research institute
- Retail Pharmacy
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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